Just contacted my conveyancing lawyer in Goddington who acted for me two years ago requesting a conveyancing estimate based on the same type of home move (a leasehold property and a freehold property) of almost identical values with a mortgage from Alliance & Leicester . It looks as though am now being quoted double. Should I look for an alternative conveyancer?
The estimate does seem a little overpriced. If you you were to look around you may be able to reduce the fees slightly by say £125. That being said, assuming were satisfied with the conveyancing the firm offered you couldcome to regret choosing an a cheaper solicitor. If is important to enquire the solicitor can represent Alliance & Leicester . You can use our search tool to get a quote a Goddington conveyancing firm on the Alliance & Leicester approved list of lawyers, which can often include conveyancing solicitors in Goddington.
Is there a reason why leasehold purchase conveyancing in Goddington costs more?
The conveyancing fees on a leasehold property in Goddington is frequently higher than on a freehold property. This is because there is an amount of additional investigations necessary in corresponding with the freeholder and management company to obtain evidence concerning whether the rent and service charges have been discharged and whether there are any large sums expected to be spent in the foreseeable future on repairs or maintenance of the building.
I am considering applying for a Leeds Building Society mortgage for purchase of a new build (under development) in Goddington with 70% LTV. Is it compulsory to choose a solicitor on the conveyancing panel for Leeds Building Society ?
There is nothing to stop you using your solicitor, but Leeds Building Society will insist on their interests being represented by a firm on their conveyancing panel. There is greater potential for delays and confusion with an additional lawyer added to the mix, and it will undoubtedly be more expensive too.
I am purchasing my first flat in Goddington with the aid of help to buy. The sellers would not budge the amount so I negotiated 6k of extras instead. The house builders rep told me not disclose to my solicitor about the side-deal as it could jeopardize my loan with the bank. Should I keep quiet?.
All lenders require a Disclosure of Incentives Form from the developer of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
I decided to have a survey carried out on a house in Goddington before instructing conveyancers. I have been told that there is a flying freehold overhang to the property. My surveyor has said that some lenders will not issue a mortgage on such a house.
It varies from the lender to lender. HSBC has different instructions from Nationwide. Should you wish to telephone us we can look into this further with the relevant bank. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Goddington. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Goddington to see if the conveyancing costs will increase in light of this.
My wife and I have agreed a price on a Goddington flat we inherited six years ago in 2011. I have over twenty years conveyancing experience and, now retired, see no reason not to conduct the legal work. The buyer's conveyancer has informed me that their bank will not allow you to do your own conveyancing mandating that the funds to be released via a solicitor's bank account.
Lending requirements to property lawyers from all CML members state that If the vendor does not have legal representation the buyer’s lawyers should check whether the mortgage company needs to be notified so that a decision can be made as to whether they are prepared to proceed.